According to the China banking association official public message on May 16, in November 2021 China banking association and China association of certified public accountants jointly set up a bank letter of certificate chain blocks practical business application service platform, as of late April 2022, 175 institutions or develop test completed and put into production launch, including bank 62, certified public accountants, 113; Ninety-five institutions were officially put into operation, including 9 banks and 86 accounting firms.
According to understand, bank certificate letter and reply is in the process of implementation of certified public accountants audit, after the access authorization auditees, directly to the banking financial institutions issue confirmations, query the auditees bank deposits, the authenticity of the information such as bank loans, guarantees, financing, bank query, check the related information and provide the reply process.
According to the China Banking Association, during the audit work in 2022, the overall operation of the bank confirmation blockchain service platform is stable and orderly, which not only effectively alleviates the confirmation problems of accounting firms, but also further reduces the time for banks to realize the centralized processing of confirmation business and other relevant requirements.
According to the data, from January to April 2022, the officially launched banks have received a total of 2,492 e-letters, and have responded to 1,967 e-letters, with a reply rate of 78.93%, indicating that bank confirmation has entered the era of e-letters. In terms of timeliness, from January to April in 2022, the average reply time of officially online banks is 2 days and 22 hours, and the average reply time of banks with the highest reply time is only 49 minutes, which greatly improves the efficiency of confirmation processing. In terms of business proportion, from January to April in 2022, the top 3 banks received 2,051 letters in total, accounting for 82.3%, showing the characteristics of concentrated head. The three accounting firms with the highest volume of issuing letters issued 672 letters in total, accounting for 26.9%, showing a relatively scattered characteristics.
China Banking Association said that under the guidance of China Banking Insurance Regulatory Commission, the Ministry of Finance and other regulatory authorities, China Institute of Certified Public Accountants, local banking associations and note associations will continue to actively implement the relevant work requirements, and further promote the digitalized and standardized transformation process of bank confirmation business.